Topaz Energy (TSE:TPZ) Trading Up 1.6% Following Analyst Upgrade

Topaz Energy Corp. (TSE:TPZ) shares shot up 1.6% during trading on Friday after Scotiabank upgraded the stock to a strong-buy rating. The company traded as high as C$28.41 and last traded at C$28.28. 415,534 shares traded hands during mid-day trading, an increase of 15% from the average session volume of 361,632 shares. The stock had previously closed at C$27.84.

Separately, Raymond James Financial boosted their price target on shares of Topaz Energy from C$31.00 to C$32.00 in a research report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat.com, Topaz Energy has an average rating of “Strong Buy” and an average target price of C$31.70.

Insider Buying and Selling at Topaz Energy

In other news, Director Mike Rose bought 10,000 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average cost of C$25.21 per share, for a total transaction of C$252,100.00. Following the acquisition, the director directly owned 443,470 shares of the company’s stock, valued at C$11,179,878.70. The trade was a 2.31% increase in their position. Insiders own 35.66% of the company’s stock.

Topaz Energy Stock Up 1.6%

The firm has a 50-day moving average price of C$25.93 and a two-hundred day moving average price of C$25.62. The firm has a market cap of C$4.35 billion, a price-to-earnings ratio of 76.43 and a beta of 0.24. The company has a debt-to-equity ratio of 36.45, a quick ratio of 7.17 and a current ratio of 1.89.

Topaz Energy (TSE:TPZ) last released its quarterly earnings data on Monday, November 3rd. The company reported C$0.07 earnings per share for the quarter. Topaz Energy had a net margin of 20.54% and a return on equity of 5.15%. The company had revenue of C$76.44 million for the quarter. On average, sell-side analysts forecast that Topaz Energy Corp. will post 0.2019855 earnings per share for the current year.

Topaz Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 29th were given a $0.34 dividend. The ex-dividend date was Monday, September 15th. This represents a $1.36 annualized dividend and a yield of 4.8%. Topaz Energy’s dividend payout ratio is 362.16%.

About Topaz Energy

Topaz Energy Corp is a royalty and energy infrastructure company focused on generating free cash flow growth and paying reliable and sustainable dividends to its shareholders, through its strategic relationship with Canada’s natural gas producers, and leveraging industry relationships to execute complementary acquisitions from other high-quality energy companies, while maintaining its commitment to environmental, social and governance practices.